Operational actions expected to mitigate cost inflation Several initiatives have been taken to mitigate the falling consumer confidence, surging input costs and supply chain related problems. This includes investments into D2C, inventory build-up, and price hikes to be implemented in Q3. We continue to view management’s reiteration of the FY’22 guidance for EBIT above 2021’s level of EUR 154m as plausible. On the back of today’s beat, we make minor positive estimate revisions on sales (+1% for ’22e-‘24e) and leave adj. EBIT roughly unchanged. We also raise our expected net profit by 7-4% for ’22e-‘24e following a positive tax effect in Q2 and a slightly lower expected tax rate going forward.
Share trading at 10x-8x EV/EBIT adj. for ’22e-’24e The Fiskars share is down 19% YTD, and is currently trading at 10x-8x EV/EBIT adj. in ’22e-’24e. Considering our minor estimate revisions, we leave ... Läs mer på ABG Sundal Collier
Aktuellt
SENASTE
